As some posters have mentioned, the announcement confirms oil...

As some posters have mentioned, the announcement confirms oil and an existing system. the next part is what is important - the nature of the find and its feasibility. IMO the SP has progressed from high 3s to 6.2. A 50 plus percent rise on confirmation of potential but not on confirmation of a commercial find. I expect the SP to fill the gap and find support around the high 4s with a trading range over the next few weeks. I am not surprised it didn't progress past low 6s as this is an area of serious resistance. It failed to breach earlier in the year and failed at the first attempt. The buy/sell ratio is horrible and as the SP retraces it should start reversing. The SP action over the next fortnight will give some indication to the success of the find IMO, as did the pre-announcement rise in FAR. For a tight hole, someone pushed this stock up before and there is no reason it will not happen again.